Insurance premiums
The information on this web page forms part of the AvSuper Product Disclosure Statement and AvSuper Corporate Product Disclosure Statement (both dated 1 February 2012). You can print this page or bookmark it for future reference.
Please refer to your PDS and our other insurance terms and conditions for more information.
The following tables and information outlines the fees required for AvSuper insurance cover.
- Voluntary death and TPD
- Automatic cover
- Corporate cover
- Income protection cover
All premiums are deducted from your super account each week and are based on your occupation class. The Trustee does not guarantee these premium rates. Tax rebates received by AvSuper have been applied to these premiums. Any change in rates will be advised to insured members and on this page.
Voluntary death and TPD cover
Weekly premiums (per unit of cover)
| Type of cover | Occupation class | |||
Professional |
White collar |
Light blue collar |
Heavy blue collar |
|
| Death only | $0.28 |
$0.32 |
$0.43 |
$0.77 |
| Death and TPD | $0.42 |
$0.48 |
$0.64 |
$1.15 |
Value of a unit at your age
|
Age last birthday |
Death only and Death/TPD |
Age last birthday |
Death only and death/TPD |
|
11-16 |
80,000 |
46 |
20,000 |
|
27 |
78,000 |
47 |
17,500 |
|
28 |
76,000 |
48 |
15,000 |
|
29 |
74,000 |
49 |
15,000 |
|
30 |
72,000 |
50 |
12,500 |
|
31 |
70,000 |
51 |
12,500 |
|
32 |
68,000 |
52 |
10,000 |
|
33 |
66,000 |
53 |
7,500 |
|
34 |
64,000 |
54 |
7,500 |
|
35 |
62,000 |
55 |
7,500 |
|
36 |
58,000 |
56 |
7,500 |
|
37 |
54,000 |
57 |
7,500 |
|
38 |
50,000 |
58 |
7,500 |
|
39 |
46,000 |
59 |
7,500 |
|
40 |
42,000 |
60 |
5,000 |
|
41 |
38,000 |
61 |
5,000 |
|
42 |
34,000 |
62 |
5,000 |
|
43 |
30,000 |
63 |
5,000 |
|
44 |
26,000 |
64 |
5,000 |
|
45 |
22,000 |
65 - 69 |
5,000* |
* Death only
Premium example for death only cover: a professional would pay $0.28 per unit. If she is 40 and chooses $126,000 (3 units of $42,000) cover, it will cost her $43.68 pa (3 x $0.28 x 52 weeks)
Premium example for death and TPD cover: a 51 year old in light blue collar employment wanting $50,000 cover (equal to four units of $12,500) would pay $133.12 pa. (4 x $0.67 x 52 weeks)
Automatic cover
Automatic cover is generally provided to members whose employer has selected AvSuper as their default super fund. Automatic cover costs the same as voluntary insurance premiums (as listed above). The number of units you get depends on your age:
|
Number of units |
Age last birthday |
|
1 |
10 - 20 |
|
2 |
21 - 29 |
|
3 |
30 - 69 |
Corporate Cover
This table shows the current annual premium rates for each $1,000 of Corporate cover.
|
Age next birthday |
Male death & TPD |
Female death & TPD |
Age next birthday |
Male death & TPD |
Female death & TPD |
|
16 |
0.46 |
0.20 |
39 |
0.62 |
0.53 |
|
17 |
0.46 |
0.20 |
40 |
0.68 |
0.60 |
|
18 |
0.46 |
0.20 |
41 |
0.76 |
0.69 |
|
19 |
0.46 |
0.20 |
42 |
0.85 |
0.78 |
|
20 |
0.46 |
0.20 |
43 |
0.97 |
0.88 |
|
21 |
0.45 |
0.20 |
44 |
1.09 |
0.96 |
|
22 |
0.43 |
0.20 |
45 |
1.23 |
1.05 |
|
23 |
0.42 |
0.19 |
46 |
1.38 |
1.13 |
|
24 |
0.41 |
0.18 |
47 |
1.55 |
1.25 |
|
25 |
0.41 |
0.18 |
48 |
1.73 |
1.39 |
|
26 |
0.39 |
0.18 |
49 |
1.95 |
1.57 |
|
27 |
0.38 |
0.17 |
50 |
2.18 |
1.79 |
|
28 |
0.38 |
0.18 |
51 |
2.45 |
2.03 |
|
29 |
0.38 |
0.19 |
52 |
2.73 |
2.29 |
|
30 |
0.39 |
0.20 |
53 |
3.05 |
2.56 |
|
31 |
0.39 |
0.20 |
54 |
3.41 |
2.86 |
|
32 |
0.41 |
0.23 |
55 |
3.77 |
3.12 |
|
33 |
0.43 |
0.26 |
56 |
4.11 |
3.40 |
|
34 |
0.45 |
0.28 |
57 |
4.53 |
3.69 |
|
35 |
0.48 |
0.31 |
58 |
5.00 |
3.97 |
|
36 |
0.50 |
0.37 |
59 |
5.58 |
4.27 |
|
37 |
0.54 |
0.42 |
60 |
6.19 |
4.59 |
|
38 |
0.57 |
0.47 |
|
|
|
